Stopping Plastic Pollution the Question of Finance

In 2022, the world had come together to agree to the UNEP Resolution 5/14, which recommended creating an international legally binding instrument (ILBI) to address plastic pollution. Several studies have, since then, offered estimates to visualise the scale of the problem: the Nordic Council of Ministers projected mismanaged plastics to reach 205 million tonne by 2040 under a business-as-usual scenario, while the OECD warned that plastic waste generation is expected to triple by 2060.

A substantial investment is necessary to address plastic pollution. The UNEP Finance Initiative estimates that interventions focused on systemic changes and single-use plastic reduction could cost US $1.64 trillion. Developing countries, meanwhile, face a significant financing gap of up to US $500 billion for implementing safe waste management infrastructure, supporting reuse models, ensuring just transition for informal workers, cleaning up legacy plastic waste, and addressing human health impacts.

The Intergovernmental Negotiating Committee (INC) has identified financing mechanisms such as a proposed plastic pollution fee, credit schemes and EPR systems. As we approach the fifth session of INC beginning in South Korea later this month, Centre for Science and Environment (CSE) and Break Free From Plastic (BFFP) invites you to join its second webinar in the series ‘The Plastic Parleys’ – the focus in this discussion will be on the question of finance.

FOR MORE DETAILS, PLEASE CONTACT:

SIDDHARTH G SINGH
siddharth.singh@cseindia.org
+91 9768902012